Below is the full text of the Letter to the Editor that was published in the August 17 edition of the Baltimore Sun.
I would like to applaud and thank Susan Bistransin for her work in making financial education a priority and a requirement in Prince George’s County Public Schools. Her efforts in this area, as outlined in her commentary, “Financial literacy courses should be required for graduation throughout Maryland” (Aug. 9), align well with Maryland Auto’s new Financial Education initiative which is part of our mission to reduce the number of uninsured drivers in the state.
When I made my recent transition from Maryland’s insurance commissioner to executive director of Maryland Auto, I was surprised to learn how many Maryland drivers have difficulty obtaining auto insurance because of credit issues or because a recent financial hardship has caused their policy to lapse. This drove home for me the importance of having access to important financial education information and that includes our youthful drivers. Maryland Auto has partnered with numerous government agencies and non-profit organizations to develop a robust financial education portal on our website. This free resource includes information on banking, budgeting, credit, debt management, fraud and scams, investing and retirement planning.
Having access to the best information available is especially important during this time of financial difficulty that so many Marylanders are facing. Every aspect of financial security — from homeownership to eliminating debt and saving for the future — is affected by making informed financial decisions. And to plan properly and make good financial decisions, consumers need access to credible information.
At Maryland Auto, we want to make sure that we are playing our part in educating Marylanders on strategies and tactics they can utilize to improve their financial status. Our portal of financial literacy resources can be found on our website at mymdauto.com/FinancialEducation. The goal of this program is to provide Maryland drivers, and all consumers, with access to accurate, trustworthy information to guide financial decisions.
Al Redmer Jr., Baltimore